The Financial Times reports that BlackRock boss / co-founder Larry Fink is a phone friend of U.S. Treasury Secretary Tim Geithner.

According to the newspaper, Geithner and Fink spoke no less than 49 during the 18 months between January 2011 and through June this year - an average call of once every 11 days. Not that's what you call influence!

CKC Capital LLC, which will begin operating in January, will focus on high-yield debt including distressed companies, Yanney and Baer said in a telephone interview. The firm, which will be based in New York, is planning to invest through a fund with an initial size of $250 million.